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Kenneth Rogoff, the International Monetary Fund’s (IMF) former chief economist, told the press that Bitcoin’s “actual uses as a transaction vehicle are very small”.

“I think Bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now,” he said. “I would see $100 as being a lot more likely than $100,000.”

Clearly, Rogoff does not share the sentiment of some in the cryptocurrency community, who think Bitcoin will head “to the moon.”

“It is one thing for governments to allow small anonymous transactions with virtual currencies; indeed, this would be desirable,” Rogoff had said a while ago. “But it is an entirely different matter for governments to allow large-scale anonymous payments, which would make it extremely difficult to collect taxes or counter criminal activity.”

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